Question: 17. Using the data in the chart below, if a company values inventory at the lower of cost or market, what is the value of

17. Using the data in the chart below, if a company values inventory at the lower of cost or market, what is the value of inventory on the balance sheet? (NOTE: Apply the lower-of-cost-or-market method calculations to the inventory under two different scenarios... (a) as a whole, and (b) individually). Item Inventory Quantity Unit Cost Price Product C 420 $ 6 Product D 370 a. LCM Inventory valued as a WHOLE is $ b. LCM Inventory valued INDIVIDUALLY is $ Unit Market Price ss 14

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